take down:
... a draw against a capital fund for a specific purpose,
such as a drawing against a construction
loan in increments; therefore, a take down from the
total amount of a loan.
target area ... a region
that is the place
of interest to an enterprise
developer.
target audience (1):
... the user
group The Network is designed to
serve. Members of
the group have an interest in enterprise
and economic development see
the .network mission
statement.
target audience (2):
... a group
profiled for
marketing purposessee marketing
analysis. A business classification from which
enterprises are selected as potential prospects and
targeted to receive location data and see advertising
in, for example, site selection publicationssearch
for economic development marketing for more explanation
and links to useful resources.
tax funds:
... money or other resources, such as
property provided through a taxing
authority as opposed to contributed
funds. For example, a local
development authority may operate entirely with tax funding
or with a mix of funding as a quasi-governmental
organization.
tax incentive ... an inducement offered as
a tax abatement.
taxes and incentives:
... an information category of economic
development data or location
data that one might see in
a community
profile; a link or heading for information
provided at a location
data supplier's website; information
about taxes and tax incentives in a location.
taxing authority:
... that which has enforcement powers to extract an
involuntary contribution for supporting a government entity or program;
a government agency is position to levy a tax;
a government agency which places a financial charge on a property,
generally after an assessment,
and enforces its collection.
tax increment financing: (TIF)
... a means of incentive or community development financing whereby
property values in an area are maintained at a specified level until
property values begin to risesee Lessons from the Field provided
online by the Northeast-Midwest Institute (USA).
tax map:
... a graphic representation showing and defining real estate in
relationship to contiguous real property in order to determine or
state value for assessing and taxing purposes.
tax package:
... an accounting for all taxes and abatements
to be expected at a location; taxes and tax shelters, abatements
and incentives presented
all together in order to accommodate an analysis, such as a ten-year-cash-flow.
tax
shelter ... an allowance for a postponement or elimination of
a tax liability.
technical labor:
... workers experienced or trained in skills that allow
them to do analytical thinking on the job; technicians.
See the definition of technical school, pre-employment
training and
OJT.
technical school:
... technician education
and/or training operation; a community
college that helps people qualify for jobs
as technical workers; an institution for learning
offering a combination of education and training close to the job
market that is flexible so that practical changes can be made as necessary
to accommodate
local workforce
development; a technical college.
telecom ... abbreviation
for telecommunications,
for example, telecom
technology.
telecommuting ... virtually going to and from work online at
home; to telecommute.
telework center:
... a location where employees use telecommunications tools to perform
their jobs.
temp
... temporary;
someone working at a job temporarily.
ten-year-cash-flow:
... a sensitivity
analysis; a cost
analysis for an enterprise
development project based on the source and application of funds.
A skilled site
selector would include it as part of a comparative
analysis,
for example, considering the projecting the value of tax
incentives (the source) against the one-time cost of relocation
services. Certain
assumptions have to be made so experience
counts. Labor
turnover is very likely to increase after relocation;
therefore, knowing how to gather the information to project its
time and costs
before settling back to what it was before or improving is as much
part of an analysis as is capital.
tenant ... a lessee.
A tenant may occupy but not necessarily be a lessee.
thread ... to tediously follow a series
of clues or subject-related indicatorssee
threader.
tight money ... funds that are hard to
get as compared to money available earliermore.
time line:
... a line representing a span of time and having a series
of points of action; a line with tic marks representing significant or
noteworthy
dates or times; a plan for a sequence of work to be performed expressed
graphically in a linear fashion as events and their times.
time is money:
... emphasis on the value of a unit of time in terms
of a currency; a phrase associated with the principle of finance stating
that money is worth
more the sooner it's received because of potential earning capacity; time
value of money based on its availability in the present
and seen as worth more than the same amount in the future due to
its capacity to earn interest; an expression implied when making
a point such as don't waste time.
time is of the essence:
... an expression that emphasizes a time-value, such
the metaphor: time
is money; a boiler plate expression in contracts, such
as a real estate agreement, that requires performance with punctuality;
to hurry someone along by implying that there is a value on
time.
time-price differential:
... the difference between the purchase price
of real estate and its higher cost-total if it were to be purchased
on an installment basis, including finance charges.
time value of money:
... the maxim that makes it acceptable to charge interest;
a principle professing that money received now is worth more than
it will be
when received latersee
time-is-money.
title insurance:
... an indemnity
agreement under which an insurer warrants to make
good a loss arising through defects in title to real estate or any
liens or encumbrances thereon. A title insurance company actually
contracts to protect the holder-of-title by a recording
act against
something that may have already happened, but is not yet discovered
or revealed.
tool:
... anything used to perform a task or
to facilitate a process, for example, a search
tool. The tool at the top of this page can
be used to Google the
Web. Area
and local development representatives use
a questionnaire, sometimes referred to as a PSF,
as a tool for gathering information about economic
development projects.
The Site
Selection Directory is a tool use by enterprise
developers and site
selectors to conveniently and securely publish project
specifications and profiles online,
for free, in order to gather economic
development data from places
of interest.
The Global
Registry of Contacts is a tool for those who are interested
in using site
selection directories.
top decision maker:
... one among those having authority
to make up their minds about matters which trigger actions
or
bring
about
consequences for
which they are
fully responsible;
one in charge who makes the final decisions and is in the position
of which it can the said: the
buck stops here.
topography:
... definition of the nature of a surface as in
topography
map or topo.
Contours are
the best known elements of topo
maps, therefore they may also be referred to
a contour
maps.
tort:
... a negligent or intentional act of wrong-doing arising form breach
of duty as defined by law rather than contract; therefore it is a
violation of a legal right. It is also defined as a civil wrong such
as a negligence, liable nuisance, trespass, slander of title or false
incarceration.
Total Quality Management: (TQM)
... a strategic production method that allows workers to voluntarily
strive to meet or exceed the the expectations of customers as applied
to performance at every level and in all areas of responsibility;
following consideration for the voice of the customer, a
combination of management techniques and team efforts within a disciplined
structure focused on continuously improving all processes (continuous
improvement). The term quality circle is used to describe
a production team that is dedicated to qualitymore information
from Xavier University of Louisiana, New Orleans, LA.
tourism:
... the economic development effort aimed at attracting
visitors to a locationone
definition of economic development states that it is the increasing
... of
capital through the community and reducing its leakage. The
Network provides a resource paper: Tourism
as Economic DevelopmentA
Brief Guide for Communities and Entrepreneurs.
trade school
... facilities with a program to help people qualify for jobs or
train for careers. Trade schools are often associated with trade
unions which are associations of workers dedicated to the development
of their specialized skills through apprenticeships which may be on-the-job
training or pre-employment
training. Trade schools differ from technical
schools in that the latter are more narrowly focused on
work that requires a familiarity with engineering practices and procedures.
transportation:
... that which is used to move people and things from
one place to another. As a location
data category, transportation generally
refers to transportation infrastructure.
transportation center:
... an intersecting point for one or more modes of transportation;
a place where one
or more modes of transportation converge and there is relatively
significant activity in support of an economy or its
development; a location where
the transportation
infrastructure and
related activities are significant so as
to define a region.
Transportation centers that generate economic
activity in a region
tend to grow in population. Growth creates a need for places seeking
economic
development to have sources of reliable location
data available
for
enterprise
developers and
site
selectors.
transportation infrastructure:
... the services and facilities of conveyance other than utilities
and communication that support ongoing economic activity in a location;
everything that would fall under transportation as
one of four essential place-data items that economic
development prospects want to know about. Transportation
in general includes water, air, and ground vehicles and services
that make use of location infrastructure.
triple net lease:
... defined
by InvestorWords.com; the net-net-net lease
that exists when, in addition to the stipulated rent payment, the
lessee assumes responsibility for all expenses associated with the
operation of the property. This includes both fixed expenses such
as taxes and insurance, and
all operating expenses, including cost of maintenance and repair.
Triple net lease agreements may require a renter to pay interest
on a lessors' property mortgage.
turn-key:
... a construction package, from ground-breaking to ribbon-cutting,
handled completely so that all that is left to do, so to speak, is
to turn the keys over to the buyer. A turn-key lease is one in which
the lessor agrees to give the lessee ready-to-occupy-property.
turnover:
... labor
turnover; a rate or count of workers leaving their jobs during
a given period of time. A turnover rate may be established with
attrition being the only explanation (attrition, however, is
the gradual reduction
in the size of a workforce that comes about by not replacing workers
lost through retirement or resignation.) Analysis requires examination
of involuntary turnovers, such as retirements, layoffs, terminations)
as well as voluntarily turnovers, such as workers leaving for better
jobs. Analysis also requires consideration of why employees are leaving
and the concern of the employer for keeping good workers on the job.
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